In the immediate aftermath of the election, the most palpable response from investors may be relief that it is over. It could be short-lived. Justin Lahart has details on The News Hub. Photo: AP.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... with us tonight one thing does look certain the presidential race is likely to be much closer than last time and House and Senate could theoretically be even more tightly configured in Darty are ... well Washington battles be even more Peter is results ... and what would it mean for solving the media from the sneak on the fiscal cliff my Heard on the Street colleague Justin Lane heart has some smart thoughts on the topic just thanks much for ... stopping in fact so were minus again fiscal cliff where the in the ... specifics ... that it is really similar taxes that would be ... I would go into effect in Salina with a win yesterday is that we we we how of funds of tax increases ... and we all somehow when spending ... cuts um which are all slated to occur on December thirty first of ... five nothing is done about it and it's ... definitely puts the economy into recession if it happens yes I mean it's not that the ABS CDO things that you get ... two point nine percent contraction in GDP in first half ... of the year so ... you don't fall recession total total mess ... okay ... now ... with an Obama victory ... what happens ... well ... I think the first thing to say is you know ... there's been no interest income in the fiscal cliff happened and ... everybody thinks that there's going to be that something to be ... forged upbeat before before the due date ... so ... let's say that Obama does win the presidency ... um ... in that case ... aam a ... you gotta have a lot of through fighting going on on this can be content is um ... you the Senate ... if this Democrat and its democratic ... Bebe of this year the procedure to us ... um also the Republicans in a house of a few fewer seats so ... very contentious fight ... and bring the market Supreme buzz a about that but ... I think you could get on the ticket ... pretty pretty tough ... and we could see you know before we have this for ... a stopgap measure that put in place we do have some real Jean-Marc and CEB ... also potentially ugly if ... say in a Romney get selected ... I think it met Romney get selected ... the immediate ... effect of the fiscal cliff ... it sort of put off the table from that of his people you know that the Congress will ... a lid on Obama wave give him some time yet not give dogs to the board he needs parents new budgets although given time ... to do that but then when it comes to Wednesday's hearing began if you have a Democratic Senate things get really really tight because ... ours fall was mentioning the the Democrats ... are not going to retire Franken are certainly not one to get rid of the health care ... of of the health care ... plan and that's a stock that you know and that's not something instead of fly with Republicans so ... you have a Beery very messy but to fight and it could be ... of something like the odd like that you just love and experience but you don't even work